- Japan would face negative credit implications if it cannot raise its potential growth rate
- Delay in Japan sales tax hike would be negative unless govt cuts other spending
- Rise in Japan long-term JGB yields not large enough to be a concern
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Lean hog futures rally $1.55 on strong USDA hog price; pork cutout up $1.67. Watch slaughter numbers!
Corn futures climb 2-3 cents on record ethanol use & South Korean import. Traders eye EIA data for output shifts.
Wheat futures mixed; SRW steady, HRW fractionally mixed, spring wheat down. Coffee rebounds on short covering.
China’s services PMI rose to 52.3 in January, the strongest in three months, as new orders and export demand improved. Employment grew for the first time in six months, while cost pressures eased and selling prices stabilised.
Asian stocks follow US tech selloff; Gold jumps past $5k, silver & oil dip. Warsh nomination & China data weigh.
Asia-Pacific markets dip, mirroring Wall Street's tech pullback. Silver & oil extend losses. Divergent China data adds to woes.
Nomura assigns a 60% chance that the BoJ delivers three rate hikes by mid-2027, lifting the policy rate to 1.50%. A more hawkish scenario sees four hikes by end-2027, taking rates to 1.75%, last seen in the early 1990s.
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